Sensitivity analysis is a good technique for forecasting the attention of management on critical variable and showing where additional analysis may be beneficial before finally accepting a project. It does not directly measure risk and it is limited by only being able to examine the effect of a change in one variable, while the others remaining constant, an unlikely occurrence [...]
In this article we will discuss about the formulation of Linear Programming Problem (LPP). Also learn about the methods to find optimal solution of Linear Programming Problem (LPP). Formulation of Linear Programming Problem (LPP): The construction of objective function as well as the constraints is known as formulation of LPP. The following are the basic steps in formulation of LPP: [...]
Smoothing of the load or resources of a network implies scheduling the activities within the limits of their total floats such that fluctuations in load or resource requirements are minimized. In other words peaks and valleys in the load chart are leveled in order to keep constant and stable optimum work force throughout the project duration; because keeping of unnecessary [...]